KEY EVENTS TO WATCH FOR:

Monday, May 7, 2018   

10:00 AM ET. April Employment Trends Index

                       ETI (previous 107.72)

                       ETI, Y/Y% (previous +5.5%)

11:00 AM ET. ISM Semiannual Report On Business & Economic Forecast

3:00 PM ET. March Consumer Credit

                       Consumer Credit Net Chg (USD) (previous +10.60B)

Tuesday, May 8, 2018   

6:00 AM ET. April NFIB Index of Small Business Optimism

                       Small Business Idx (previous 104.7)

7:45 AM ET. The Retail Economist/Goldman Sachs Weekly Chain Store Sales Index

                       Chain Store Sales, W/W% (previous -1.4%)

                       Chain Store Sales, M/M% (previous +2.4%)

8:55 AM ET. Johnson Redbook Retail Sales Index

                       Ret Sales Mo-to-Date, M/M% (previous +0.5%)

                       Ret Sales Mo-to-Date, Y/Y% (previous +3.0%)

                       Latest Wk, Y/Y% (previous +3.5%)

10:00 AM ET. March Job Openings & Labor Turnover Survey

10:00 AM ET. May IBD/TIPP Economic Optimism Index

                       Economic Optimism Idx (previous 52.6)

                       6-Mo Economic Outlook (previous 49.7)

4:30 PM ET. API Weekly Statistical Bulletin

                       Crude Stocks, Net Chg (Bbls) (previous +3.4M)

                       Gasoline Stocks, Net Chg (Bbls) (previous +1.6M)

                       Distillate Stocks, Net Chg (Bbls) (previous -4.1M)

Wednesday, May 9, 2018  

7:00 AM ET. MBA Weekly Mortgage Applications Survey

                       Composite Idx (previous 388.6)

                       Composite Idx, W/W% (previous -2.5%)

                       Purchase Idx-SA (previous 258.1)

                       Purchase Idx-SA, W/W% (previous -1.6%)

                       Refinance Idx (previous 1104.9)

                       Refinance Idx, W/W% (previous -3.5%)

8:30 AM ET. April PPI

                       PPI, M/M% (previous +0.3%)

                       Ex-Food & Energy PPI, M/M% (previous +0.3%)

                       Personal Consumption (previous +0.1%)

10:00 AM ET. March Monthly Wholesale Trade

                       Inventories, M/M% (previous +1.0%)

10:30 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 435.955M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous +6.218M)

                       Gasoline Stocks (Bbl) (previous 237.978M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +1.171M)

                       Distillate Stocks (Bbl) (previous 118.829M)

                       Distillate Stocks, Net Chg (Bbl) (previous -3.9M)

                       Refinery Usage (previous 91.1%)

                       Total Prod Supplied (Bbl/day) (previous 20.164M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous +1.164M)

Thursday, May 10, 2018   

8:30 AM ET. April Real Earnings

8:30 AM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons) (previous 1640.1K)

                       Soybeans (Metric Tons) (previous 387.2K)

                       Wheat (Metric Tons) (previous 475.6K)

8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims

                       Jobless Claims (previous 211K)

                       Jobless Claims, Net Chg (previous +2K)

                       Continuing Claims (previous 1756000)

                       Continuing Claims, Net Chg (previous -77K)

8:30 AM ET. April CPI

                       CPI, M/M% (previous -0.1%)

                       Core CPI, M/M% (previous +0.2%)

                       Energy Idx, M/M% (previous -2.8%)

                       Food Idx, M/M% (previous +0.1%)

                       Real Avg Wkly Pay-Infla Adj, M/M% (previous +0.4%)

                       CPI, Y/Y% (previous +2.4%)

                       Core Annual, Y/Y% (previous +2.1%)

9:45 AM ET. Bloomberg Consumer Comfort Index

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 1343B)

                       Working Gas In Storage, Net Chg (Cbf) (previous +62B)

12:00 AM ET. World Agricultural Supply & Demand Estimates (WASDE)

                       Corn, End Stocks (Bushels)

                       Soybeans, End Stocks (Bushels)

                       Wheat, End Stocks (Bushels)

12:00 AM ET. April Monthly U.S. Retail Chain Store Sales Index

2:00 PM ET. April Monthly Treasury Statement of Receipts & Outlays of the U.S. Govt

4:30 PM ET. Foreign Central Bank Holdings

4:30 PM ET. Federal Discount Window Borrowings

4:30 PM ET. Money Stock Measures

Friday, May 11, 2018  

8:30 AM ET. April Import & Export Price Indexes

                       Import Prices (previous +0.0%)

                       Non-Petroleum Prices (previous +0.1%)

                       Petroleum Prices (previous -1.3%)

10:00 AM ET. May University of Michigan Survey of Consumers – preliminary

                       Mid-Mo Sentiment (previous 97.8)

                       Mid-Mo Expectations (previous 86.8)

                       Mid-Mo Current Idx (previous 115.0)

The STOCK INDEXES http://quotes.ino.com/ex changes/?c=indexes"  

The STOCK INDEXES:The June NASDAQ 100 was higher overnight adding to last Friday's jobs report-inspired gains as a sharp climb for oil prices and the dollar were in focus and a trio of Federal Reserve speakers was upcoming.Gains were supported by a couple of deals, including one driving up the price of Starbucks Corp. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off the late-April low, April's high crossing at 6867.00 is the next upside target. Closes below last Thursday's low crossing at 6538.00 would temper the friendly outlook. First resistance is April's high crossing at 6867.00. Second resistance is the reaction high crossing at 6951.00. First support is the late-April low crossing at 6429.25. Second support is April's low crossing at 6306.75.    

The June S&P 500 was higher overnight as it extends the rebound off last Thursday's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 2681.95 are needed to confirm that a short-term low has been posted. If June renews the decline off April's high, the reaction low crossing at 2584.50 is the next downside target. First resistance is April's high crossing at 2718.00. Second resistance isthe reaction high crossing at 2741.00. First support is the reaction low crossing at 2584.50. Second support is April's low crossing at 2554.00.     

INTEREST RATES http://quotes.ino.com/ex changes/?c=interest"

INTEREST RATES: June T-bonds were slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 144-08 are needed to confirm that a short-term low has been posted. If June resumes the decline off April's high, February's low crossing at 141-14 is the next downside target. First resistance is the 50-day moving average crossing at 144-08. Second resistance is the reaction high crossing at 146-02. First support is April's low crossing at 141-17. Second support is February's low crossing at 141-14.

June T-notes were lower overnight. Nevertheless, stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 120.064 are needed to confirm that a short-term low has been posted. If June renews the decline off April's high, monthly support crossing at 117.180 is the next downside target. First resistance is the 20-day moving average crossing at 119.269. Second resistance is the 50-day moving average crossing at 120.064. First support is the late-April low crossing at 118.310. Second support is monthly support crossing at 117.180.  

ENERGY MARKETS http://quotes.ino.com/ex changes/?c=energy"

ENERGY MARKETS:JuneNymex crude oil was higher overnight as it extends last Friday's upside breakout of a three-week old trading range while renewing the rally off last June's low. U.S. oil prices pushed above the $70-a-barrel mark overnight for the first time since 2014, as investors began to become more convinced the U.S. might take a hard line on an Iranian nuclear deal.Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off February's low, the 50% retracement level of the 2014-2016-decline crossing at 72.85 is the next upside target. Closes below the 20-day moving average crossing at 67.88 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 70.69. Second resistance is the 50% retracement level of the 2014-2016-decline crossing at 72.85. First support is the 20-day moving average crossing at 67.88. Second support is the 50-day moving average crossing at 64.76.  

June heating oil was higher overnight as it extends the rally off February's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the contract high crossing at 235.70 is the next upside target. Closes below the 20-day moving average crossing at 210.99 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 217.48. Second resistance is the the contract high crossing at 235.70. First support is the 20-day moving average crossing at 210.99. Second support is the 50-day moving average crossing at 201.22. 

June unleaded gas was higher overnight. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, monthly resistance crossing at 217.77 is the next upside target. Closes below last Thursday's low crossing at 205.29 would confirm that a short-term top has been posted. First resistance is last Monday's high crossing at 215.23. Second resistance is monthly resistance crossing at 217.77. First support is last Thursday's low crossing at 205.29. Second support is the 50-day moving average crossing at 201.49. 

June Henry natural gas was slightly lower overnight as it extends the decline off April's high.Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, April's low crossing at 2.660 is the next upside target. Closes above the 10-day moving average crossing at 2.769 would confirm that a short-term low has been posted. First resistance is April's high crossing at 2.844. Second resistance is March's high crossing at 2.873. First support is the reaction low crossing at 2.691. Second support is April's low crossing at 2.660.

CURRENCIEShttp://quotes.ino.com/ex changes/?c=currencies"

CURRENCIES:The June Dollar was higher overnight as it extends the rally off April's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 62% retracement level of the June-2017/February-2018 decline crossing at 93.29 is the next upside target. Closes below the 20-day moving average crossing at 90.69 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 92.76. Second resistance is the 62% retracement level of the June-2017/February-2018-decline crossing at 93.29. First support is the 10-day moving average crossing at 91.82. Second support is the 50-day moving average crossing at 90.69.

The June Euro was lower overnight and trading below support marked by the 75% retracement level of the November-February-decline crossing at 119.65. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, is the 87% retracement level of the November-February-decline crossing at 118.54 is the next downside target. Closes above the 20-day moving average crossing at 122.41 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 120.92. Second resistance is the 20-day moving average crossing at 122.41. First support is the 75% retracement level of the November-February-decline crossing at 119.65. Second support is the 87% retracement level of the November-February-decline crossing at 118.54. 

The June British Pound was slightly lower overnight as it extends the decline off April's high.Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the aforementioned decline, December's low crossing at 1.3148 is the next downside target. Closes above the 20-day moving average crossing at 1.3976 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.3747. Second resistance is the 20-day moving average crossing at 1.3976. First support is last Friday's low crossing at 1.3511. Second support is December's low crossing at 1.3148.  

The June Swiss Franc were lower overnight as it extends this year's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off February's high, monthly support crossing at 0.9833 is the next downside target. Closes above the 20-day moving average crossing at 1.0258 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 1.0111. Second resistance is the 20-day moving average crossing at 1.0258. First support is the overnight low crossing at 0.9983. Second support is monthly support crossing at 0.9833.

The June Canadian Dollar was lower overnight as it extends the trading range of the past two-weeks. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off April's high, the reaction low crossing at 77.35 is the next downside target. Closes above the 20-day moving average crossing at 78.54 would confirm that a short-term low has been posted.First resistance is the 20-day moving average crossing at 78.54. Second resistance is April's high crossing at 79.92. First support is the reaction low crossing at 77.35. Second support is March's low crossing at 76.33.  

The June Japanese Yen was lower overnight. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 0.9261 would confirm that a short-term low has been posted. If June renews the decline off March's high, the 75% retracement level of the November-March-rally crossing at 0.9047 is the next downside target. First resistance is the 20-day moving average crossing at 0.9261. Second resistance is the 50-day moving average crossing at 0.9384 First support is last Wednesday's low crossing at 0.9111. Second support is the 75% retracement level of the November-March-rally crossing at 0.9047.  

PRECIOUS METALS http://quotes.ino.com/ex changes/?c=metals"

PRECIOUS METALS: June gold was lower overnight due to strength in the US Dollar. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 1330.90 would confirm that a short-term low has been posted. If June extends the decline off April's high, the 62% retracement level of the December-January-rally crossing at 1296.30 is the next downside target. First resistance is the 20-day moving average crossing at 1330.90. Second resistance is April's high crossing at 1369.40. First support is the 62% retracement level of the December-January-rally crossing at 1296.30. Second support is the 75% retracement level of the December-January-rally crossing at 1279.20.

July silver was slightly lower overnight. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 16.675 would confirm that a short-term low has been posted. If July resumes the decline off April's high, December's low crossing at 15.805 is the next downside target. First resistance is the the 20-day moving average crossing at 16.675. Second resistance is the reaction high crossing at 16.950. First support is last Tuesday's low crossing at 16.070. Second support is December's low crossing at 15.805. 

June copper was higher overnight as it consolidates some of the decline off April's high. The high-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 310.26 would confirm that a short-term top has been posted. If June resumes the decline off April's high, April's low crossing at 298.39 is the next downside target. First resistance is the 20-day moving average crossing at 310.26. Second resistance is April's high crossing at 320.00. First support is last Tuesday's low crossing at 301.00. Second support is April's low crossing at 298.39. 

GRAINS http://quotes.ino.com/ex changes/?c=grains

July corn was lower overnight as it consolidates some of the rally off March's low. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off March's low, the 75% retracement level of the July-January-decline crossing at 4.16 1/4 is the next upside target. Closes below the 20-day moving average crossing at 3.96 1/4 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 4.08 1/4. Second resistance is the 75% retracement level of the July-January-decline crossing at 4.16 1/4. First support is the 10-day moving average crossing at 4.00 3/4. Second support is the 20-day moving average crossing at 3.96 1/4.  

July wheat was lower overnight as it consolidates some of the rally off the late-April low. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 5.00 1/4 would confirm that a short-term top has been posted. If July extends the rally off March's low, the 62% retracement level of the July-December-decline crossing at 5.43 3/4 is the next upside target. First resistance is last Thursday's high crossing at 5.38 1/2. Second resistance is the 62% retracement level of the July-December-decline crossing at 5.43 3/4. First support is the 10-day moving average crossing at 5.11 1/2. Second support is the 20-day moving average crossing at 5.00 1/4.      

July Kansas City Wheat closed down 12-cents at 5.55 3/4. 

July Kansas City wheat closed lower on Friday due to profit taking ahead of the weekend. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the rally off April's low, the 75% retracement level of the July-December-decline crossing at 5.77 is the next upside target. Closes below the 20-day moving average crossing at 5.27 would confirm that a short-term top has been posted. First resistance is today's high crossing at 5.67 3/4. Second resistance isthe 75% retracement level of the July-December-decline crossing at 5.77. First support is the 10-day moving average crossing at 5.36 1/4. Second support is the 20-day moving average crossing at 5.27. 

July Minneapolis wheat was lower overnight as it consolidated some of the rally off April's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 10-day moving average crossing at 6.15 would confirm that a short-term top has been posted. If July extends the rally off the late-April low crossing at 5.91 1/4, April's high crossing at 6.43 is the next upside target. First resistance is last Thursday's high crossing at 6.30 3/4. Second resistance is April's high crossing at 6.43 1/2. First support is the late-April low crossing at 5.91 1/4. Second support is April's low crossing at 5.81. 

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

July soybeans were lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the decline off April's high, the reaction low crossing at 10.14 is the next downside target. Closes above the 50-day moving average crossing at 10.50 1/2 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 10.67 1/2. Second resistance is April's high crossing at 10.78. First support is the reaction low crossing at 10.14. Second support is April's low crossing at 9.94 1/2. 

July soybean meal was lower overnight as it consolidates some of its recent gains. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 382.80 would confirm that a short-term top has been posted. If July renews the rally off January's low, weekly resistance crossing at 414.20 is the next upside target. First resistance is last Wednesday's high crossing at 406.50. Second resistance is weekly resistance crossing at 414.20. First support is the 50-day moving average crossing at 382.80. Second support is the late-April's low crossing at 373.80. 

July soybean oil was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 31.24 are needed to confirm that a short-term low has been posted. If July resumes the decline off November's high, the 87% retracement level of the 2015-2016-rally crossing at 29.35 is the next downside target. First resistance is the 10-day moving average crossing at 30.83. Second resistance is the 20-day moving average crossing at 31.24. First support is last Tuesday's low crossing at 30.15. Second support is the 87% retracement level of the 2015-2016-rally crossing at 29.35. 

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

June hogs closed up $0.03 at $73.53 

June hogs closed slightly higher on Friday. The mid-range close sets the stage for a steady opening when Monday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 75.48 would confirm that a low has been posted. If June extends the decline off April's high, April's low crossing at 70.25 is the next downside target. First resistance is the 20-day moving average crossing at 75.48. Second resistance is the 50-day moving average crossing at 76.62. First support is Monday's low crossing at 72.20. Second support is April's low crossing at 70.25. 

June cattle closed down $0.48 at 106.05. 

June cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, the 50-day moving average crossing at 107.84 is the next upside target. If June resumes the decline off February's high, the March 2017 low crossing at 96.40 is the next downside target. First resistance is the 50-day moving average crossing at 107.84. Second resistance is the reaction high crossing at 114.80. First support is the 87% retracement level of 2017's rally crossing at 99.63. Second support is the March 2017 low crossing at 96.40.

May Feeder cattle closed down $0.40 at $140.40. 

May Feeder cattle closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off April's low, the reaction high crossing at 148.98 is the next upside target. Closes below Wednesday's low crossing at 137.30 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 143.00. Second resistance is the reaction high crossing at 148.98. First support is the reaction low crossing at 134.33. Second support is April's low crossing at 128.88.   

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

July coffee closed lower on Friday as it consolidated some of the rally off April's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 12.01 are needed to confirm that a low has been posted. If July extends the rally off April's low, the reaction high crossing at 12.87 is the next upside target.    

July cocoa closed lower on Friday. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 27.36 are needed to confirm that a short-term top has been posted. If July extends the rally off December's low, the contract high crossing at 30.20 is the next upside target.  

July sugar closed lower on Friday. The low-range close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 11.80 are needed to confirm that a low has been posted. If July extends this year's decline, monthly support crossing at 10.13 is the next downside target. 

July cotton closed sharply higher on Friday and posted a new contract high as it renewed the rally off the 2017 low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends the aforementioned rally, weekly resistance crossing at 87.18 is the next upside target. Closes below the 50-day moving average crossing at 83.03 would confirm that a short-term top has been posted.